PNBK vs SBET: Correlation
How closely do Patriot National Bancorp Inc. (PNBK) and Sharplink, Inc. (SBET) trade together? Their weekly returns over three years give a correlation of -0.35, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PNBK and SBET?
Across a 3-year window, the weekly returns of PNBK and SBET correlate at -0.35, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.17) runs above the 3-year figure (-0.35). Stretching to 5 years gives -0.33, with an annualized covariance of -24615.1 %².
Among the 15 assets we track against PNBK, SBET sits near the bottom by co-movement, at rank #14. The last year tells two different stories: PNBK led by 21.8 percentage points, -32.1% for PNBK against -53.9% for SBET. Note the risk asymmetry: SBET runs 5.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
PNBK vs SBET: side by side
| PNBK (Patriot National Bancorp Inc.) | SBET (Sharplink, Inc.) | |
|---|---|---|
| 1-year return | -32.1% | -53.9% |
| 5-year return | -89.0% | -98.8% |
| Volatility (ann.) | 112.5% | 616.8% |
| Beta vs S&P 500 | 0.76 | 3.10 |
| Max drawdown (3Y) | -89.4% | -94.2% |
| Market cap | $0.1B | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PNBK | SBET |
|---|---|---|
| 2022 | -31.8% | -88.3% |
| 2023 | -63.9% | -51.6% |
| 2024 | -49.3% | -57.3% |
| 2025 | -6.2% | +16.4% |
| 2026 | -43.7% | -0.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PNBK and SBET good diversifiers for each other?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PNBK and SBET?
The PNBK/SBET correlation stands at -0.35 on a 3-year window (1 year: 0.17, 5 years: -0.33), computed from weekly returns as of 2026-08-27.
Is SBET a good diversifier for PNBK?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.35 mean?
A reading of -0.35 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Hubs: PNBK correlations · SBET correlations
